POV: youāre 26 years old, working 80 hours per week, and $65,000 in credit card debt.
This is the story of how a little piece of paper changed my life.
It all starts in 2017 on a 6-hour continental flight from SF to New York City.
The Sunday Scaries were kicking in - I had just partied all weekend and got drunk out of my skin.
I was dreading going back to work on Monday.
To distract myself, I whipped out my Kindle and opened page 1 of āThink And Grow Richā by Napoleon Hill.
Why was I reading this?
I was in a horrendous financial situation:
- I was $65,000 in credit card debt and student loans.
- I was living paycheck to paycheck DESPITE making six figuresā¦
- Paying $2,500/month rent to live in a shoebox
- I hated my job
I needed to change something. I needed to get out of this hole.
I started reading about Napoleon Hillās 6-step framework to achieve any financial goal:
Itās called the "Philosophy of Achievement":
Step 1: Fix in your mind the exact amount of money you desire. Be exact.
Step 2: Determine exactly what you intend to give in return for the money you desire.
Step 3: Establish a definite date when you intend to possess the money you desire.
Step 4: Create a definite plan for carrying out your desire, and begin at once.
Step 5: Write out a clear, concise statement of step 1-4
Step 6: Read your written statement aloud, twice a day.
I thought Iād give it a shot.
So I pulled out a piece of paper and wrote down my rules:
1. Exact amount: I wanted exactly $10,000 in cash, and no debt.
2. My sacrifice: Follow a serious budget and start a side project that makes money.
3. Achievement date: 15 months from now.
4. Definite plan: I made a spreadsheet and ran all the numbers. It was realistic.
5. I wrote this all down on a physical piece of paper (see image below).
6. I taped this piece of paper above my bed, and read it every morning & night.
I was motivated.
I put my head down and got to work.
I didnāt become a different person overnight.
But I slowly started chipping away at the goal.
Things started to changeā¦
I stopped going out and getting drunk every weekend. I stopped spending frivolously. And I started making money from my side project.
- 3 months in: I officially launched
starterstory.com
- 6 months in: I paid off my first credit card
- 12 months in: Starter Story hit $1,000/month in revenue
- 13 months in: I paid off all $65K of my debt
- 14 months in: I quit my FT job to go all in on Starter Story
15 months in - I didnāt reach my goal :(
I only had $5,000 in my bank account⦠but I wasnāt sad.
I had paid off $65,000 worth of debt in 15 months! I was debt free AND I started my own business!
Life was amazing!
And then it happened: 16 months in, I had $10k in my bank account.
If you are consistent and do honest work, amazing things will happen.
What you visualize over time will naturally become your reality. State your goals and get to work.
This piece of paper is still in my wallet.